Non-use value: bequest value and existence value

Bequest value and existence value

A non-use value (feel good or warm glow) is a value associated that does not concern our use, either direct or indirect, of the environment, its resources or services.

Bequest value: The current generation places value on ensuring the availability of biodiversity and ecosystem functioning to future generations. This is determined by a
person’s concern that future generations should have access to resources and opportunities. It indicates a perception of benefit from the knowledge that resources and opportunities are being passed to descendants[1].

Existence value: This is the benefit, often reflected as a
sense of well being, of simply knowing marine biodiversity
exists, even if it is never utilised or experienced, people
simply derive benefit from the knowledge of its existence
(Hageman, 1985[2]; Loomis and White, 1996[3]). The considerable
importance which the wider public attach to maintaining
diverse marine life is revealed through their interest in
marine based media presentations, such as the ‘‘Blue
Planet’’. In addition, articles on cold water corals frequently
appear in the media (http://news.bbc.co.uk/1/hi/
sci/tech/3719590.stm,2004), despite the fact the majority
of the general public will never see a cold water coral, they
are interested in them and benefit from their existence.